To Much money when clients are still not been serviced as they should be.

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WyndhamWorldwide has issued its second quarter 2016 earnings report, so as usual I’m posting some highlights from their Vacation Ownership segment below for your edification.

  1. Revenues were $705 million in the second quarter of 2016, a 1% increase over the second quarter of 2015.
  2. Net VOI sales declined by 2%, as higher gross VOI sales volume was offset by an increase in the provision for loan losses, which was in line with the Company’s expectations.
  3. Gross VOI sales were $518 million in the second quarter of 2016, an increase of 3% compared with the second quarter of 2015. Results reflect tour flow growth of 3.4%, partially offset by a volume per guest (VPG) decline of 0.8% in constant currency, reflecting higher sales to new owners.
  4. The number of new owners added increased 13% from the second quarter of 2015.
  5. Vacation ownership contract receivables, net, of $2.7 billion, unchanged from December 31, 2015
  6. Vacation ownership and other inventory of $1.3 billion, unchanged from December 31, 2015
  7. Securitized vacation ownership debt of $2.0 billion, compared with $2.1 billion at December 31, 2015
  8. EBITDA for the second quarter of 2016 was $187 million, an increase of 3% compared with the second quarter of 2015, reflecting higher gross VOI sales, a lower cost of sales and higher management fees, partially offset by an increase in the provision for loan losses.

 

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